The recently announced plans by the Central Bank of Nigeria (CBN) to redesign Nigerian currency at the N200, N500 and N1000 levels has gotten off on an acrimonious note as two critical stakeholders in the policy the CBN and the Federal Ministry of Finance, Budget and National Planning are currently at each other’s throats over the project.

The Minister of Finance while appearing before the Senate Committee on Finance had dropped a bombshell that the Ministry was not carried along nor consulted on the new monetary policy announced by the CBN to redesign N200, N500 and N1000 naira notes with effect from December 15, 2022. READ MORE: https://matrixliveng.com/naira-notes-redesigning-cbn-ministry-of-finance-trade-tackles/

Matrixliveng:
The recently announced plans by the Central Bank of Nigeria (CBN) to redesign Nigerian currency at the N200, N500 and N1000 levels has gotten off on an acrimonious note as two critical stakeholders in the policy the CBN and the Federal Ministry of Finance, Budget and National Planning are currently at each other’s throats over the project.

The Minister of Finance while appearing before the Senate Committee on Finance had dropped a bombshell that the Ministry was not carried along nor consulted on the new monetary policy announced by the CBN to redesign N200, N500 and N1000 naira notes with effect from December 15, 2022. READ MORE: https://matrixliveng.com/naira-notes-redesigning-cbn-ministry-of-finance-trade-tackles/

THE CLUELESS FAILURE AT THE HELMS OF AFFAIRS OF THE CBN, Godwin Emefiele SHOULD HAVE BEEN RELEIVED OF THE GRIP OF THE MONENATRY POLICY OF NIGERIA AND LONG SHOWN THE WAY OUT OF THE OFFICE.

Mr. Godwin Emefiele who is the Governor of the CBN, currently has run out of ideas about how to improve the fiscal policies that would turn around the economy of Nigeria for good.

IT IS HIGH TIME HE LEFT. IF OUR FORTUNES MUST IMPROVE AND PROGRESS.

THE MOST ABSURD ILLOGICAL EXCUSE EVER.

“According to him, actions are being taken in order to take control of the currency in circulation.

He stated that the bulk of Nigeria’s currency notes were outside bank vaults and that the CBN would not allow the situation to continue.”.

MEANING, THE NEW NOTES WOULD FOREVER REMAIN LOCKED UP IN THE CBN VAULTS AND THE PEOPLE RETURNING THE CURRENT NOTES FOR EXCHANGE WOULD NOT NEED THEM FOR THE REASON THEY KEPT THEM IN THE FIRST INSTANCE.

All these Adam Smith economic philosophies are rustic outdated and not applicable to the reality of today’s economy.

YOU WOULD RECALL HOW IN SAME VEIN, THE HIKE IN INTEREST RATE HAVE NOT SOLVED THE ECONOMIC MALAISE RAVAGING THE ECOUNTRY, CURRENTLY.

The Adam Smith’s people cum economists!

MEANWHILE THE REASON FOR THE CHANGE HAS AGAIN SHIFTED. IT IS NO LONGER ABOUT TOO MUCH CURRENCY OUTSIDE THE VAULTS OF THE CBN. THE RESON NOW IS COUNTERFEIT.

Which will be the next THIUGHTLESS reason to continue to balkanize the Nigerian economic life?

WITH Godwin Emefiele STILL IN CHARGE AT THE CBN. NIGERIA IS HEADED FOR A KNEEJACK ECONOMY AND FOR THE BRINK.

How can the ministry of finance be kept in the dark in the scheme of things of the Nigerian economy?

Nigeria is not organised

Well let's have hope

VERY GOOD ZAINAB.
"ASIRITU" "LOBATAN" "AWADASIROFU"!!!
THE CAT HAS BEEN LET OUT OF THE BAG.
IT IS FINISHED.
TIME NOW FOR REAL SHARIA AND CABAL STRUGGLE.